OTCQX:BGMZF - Post by User
Comment by
hammer161on Apr 16, 2013 10:50am
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Post# 21258757
RE: I believe
RE: I believe BGM picked a poor time to start up a mill (in winter), while feeding the mill scraps left over from previous operations - i don't think the previous operators would have left good ore just sitting there. On top of that the mill had been idle for a while and was bound to have issues and breakdowns (according to Tim at PDAC they had to replace a main conveyor (big $$$)).
As for costs - if it is 5 g/t from an open pit there should be no way they lose money. If it is 2 g/t from an open pit then there could be issues. I still feel if anything this will be an underground mine like most, if not all of the previous production. If that is the case however the mineable ounces will be small.